Following the rise in cross-border payments, Bank of America on Sunday introduced guaranteed exchange rates for up to one year, the longest term available in the industry. The growth of e-commerce businesses, services, manufacturing and the gig economy has led to a sharp increase in both the volume and value of cross-border payments in recent … Read more
It’s all but certain that the next move Americans see from the Federal Reserve will be a second interest rate cut. The real question is whether officials will “go big” again with another half-percentage-point reduction. The next rate decision won’t be announced until Nov. 7, but discussions are already very active about how much the … Read more
The Federal Reserve cut interest rates Wednesday for the first time since 2020 as it switched gears from battling high inflation to keeping the labor market healthy. The half-percentage-point cut was unusually large for the central bank — it tends to move rates up or down by a quarter-percentage point — but not entirely unexpected. … Read more
We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. Learn more. The wait is finally over. For the first time since March 2020, the Federal Reserve has cut short-term interest rates. On Wednesday, Fed Chairman Jerome … Read more
We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. Learn more. The price of gold surged to a new all-time high of $2,582 per troy ounce on Friday on the back of a weaker dollar and … Read more
The Federal Reserve is expected to decrease interest rates for the first time since 2020 in September, setting off a chain reaction that will indirectly influence several parts of the U.S. economy — including your wallet. In recent years, the Fed ratcheted up interest rates (and then held them steady) in order to curb excessive … Read more
Later this month, the Federal Open Market Committee is poised to cut interest rates for the first time since 2020. It’s a major decision that will have consequences for tons of American consumers — so you should get ready now. For context, the Federal Reserve has been on an absolute crusade to bring down inflation, … Read more
James Bullard, the former president of the Federal Reserve Bank of St. Louis from 2008-2023 and a former member of the Federal Open Market Committee, was named the dean of the Mitchell E. Daniels, Jr., School of Business at Purdue University in July 2023. Bullard talked with Global Finance magazine recently about a wide range … Read more
The Federal Reserve is widely expected to bring about a long-awaited interest rate cut during its next meeting. But just how big will that potential rate cut be? The central bank held interest rates steady in July — a move that was expected and kept rates at the 5.25% to 5.5% range. But Fed Chair … Read more